Concept. October 10, 2021. Communism and Fascism as Economic Systems

in LeoFinance2 years ago

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Communism and fascism are two philosophic ideologies which are considered extremist and at the opposing ends of the political spectrum. One is considered extreme left wing and the other one is considered extreme right wing. They do, however, share in common that the individualism is rejected. These ideologies have also in common the fact that they ultimately reject democratic means and are authoritarian and totalitarian in nature.

In communism, the economic order involves the people's ownership of the means of production. This involves a classless society in which money, and the state would not be necessary anymore. Private property would not be allowed in a communist system. Many socialist systems exist under the premise that communism is a utopia and that some sort of control of the means of production has to be under the governance of the state as representative of the people. They also favor the workers ownership of companies in order to achieve an egalitarian distribution of profit.

Fascism, on the other hand, promotes an economic order in which corporate power fuses with the political power in order to control the means of production. Corporate would mean associations of people, which could be companies or unions. This super state would control all aspects of the life of people (totalitarian) and would not allow democratic forms (authoritarian).

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.

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Communism and Fascism have any religion?

It would depend. This post was strictly financial

Thanks for your time.